Tuesday, October 27, 2020

KSE-100 soars 208 points on attractive valuations, IMF conclusion

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) on Thursday gained 208 points or (+0.57%) on attractive price valuations and IMF conclusion. Market traded in a narrow band on Thursday, although tilted towards positive, but oscillated between -80pts and +331pts during the session.

Highlight of Thursday’s session remained Cement Sector, which saw trading volumes of 38M (contributed by FCCL, MLCF & DCL) and contributed negatively to the points table.

Selling pressure was observed in the Cement sector, whereby MLCF saw several touchdowns on lower circuit, but otherwise DGKC and LUCK saw considerable buying activity. E&P, Refinery, Banks and Engineering sector performed positive on Thursday.

The Index closed at 36,787pts as against 36,579pts showing an increase of 208pts (+0.6% DoD).

Sectors contributing to the performance include Banks (+48pts), E&P (+46pts), O&GMCs (+36pts), Power (+24pts), Fertilizer (+20pts) and Cement (-20pts).

Analysts at Arif Habib Limited said that the volumes increased from 141.2mn shares to 143.8mn shares (+2% DoD). Average traded value also increased by 7% to reach US$ 31.2mn as against US$ 29.1mn.

Stocks that contributed significantly to the volumes include TRG, FCCL, MLCF, KEL and WTL, which formed 39% of total volumes.

Stocks that contributed positively include OGDC (+29pts), PSO (+24pts), HUBC (+22pts), LUCK (+22pts), and HBL (+14pts).

Stocks that contributed negatively include DGKC (-13pts), FCCL (-9pts), MLCF (-9pts), HASCOL (-5pts) and CHCC (-5pts).

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
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